American Bitcoin swings to $126 million Q3 profit on bitcoin revaluation gains
Miner American Bitcoin, backed by Eric Trump, reported net income of about $126 million for the third quarter, reversing a $57.2 million loss in the prior quarter. A $197.3 million gain on digital assets drove the result, while revenue slipped to $63.4 million as production fell to roughly 891 BTC and cost per coin mined rose to about $42,100. Holdings reached about 8,427 BTC at the end of September, with around 3,090 pledged under miner purchase agreements with Bitmain.